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January 27, 2006
U.S. Economy Slows In Q4
The U.S. economy posted its slowest growth rate in 3 years for the fourth quarter of 2005 due to sluggish consumer and government spending.
The economy grew by 1.1% last quarter, bringing total 2005 growth to 3.5%. Economists had predicted a 2.8% gain for the fourth quarter, but growth was curbed by a 17.5% drop in consumer spending on durable goods.
Retailers also felt the pinch as holiday shopping fell below expectations.
Posted by Blacks on January 27, 2006 08:20 AM
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